# 119-s-5454: Small Business Audit Correction Act of 2026

119-s-5454, Small Business Audit Correction Act of 2026, is a 119th Congress bill sponsored by Sen. Cotton, Tom [R-AR] (R-AR); status introduced; PRIA reads it as touching household money (as of 2026-10-04).

- Canonical: https://policyrisk.com/legislation/119-s-5454
- As of: 2026-10-04
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-5454
- Congress: 119
- Title: Small Business Audit Correction Act of 2026
- Status: introduced
- Introduced: 2026-09-22
- Sponsor: Sen. Cotton, Tom [R-AR] (R-AR)
- Cosponsors: 0
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-10-04

## Summary

**Creates an exemption that would let certain privately held, non-carrying brokers and dealers avoid Sarbanes‑Oxley Title I internal‑control audits.** The bill would let those qualifying firms satisfy their annual audit obligation under Rule 17a-5 with an audit conducted under Generally Accepted Auditing Standards and it directs the SEC and PCAOB to update rules to implement the change.

## Provisions PRIA read

- Audit relief for small broker-dealers: benefit, low. This bill would let some small, privately held broker-dealers be excluded from the Sarbanes-Oxley Title I audit rules. To qualify, a firm would have to be privately held, be a non-carrying broker-dealer (no customer funds or accounts during the most recent fiscal year and no more than 150 persons r…

## Related bills

- 119-s-2342: Intelligence Authorization Act for Fiscal Year 2026
- 119-s-4615: Intelligence Authorization Act for Fiscal Year 2027
- 119-s-2142: GOLDEN DOME Act of 2025
- 119-s-1748: Kids Online Safety Act
- 119-s-2010: TERMS Act
- 119-s-292: Educational Choice for Children Act of 2025

## Sources
- [119-s-5454 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/5454)

## Related
- [119-s-2342: Intelligence Authorization Act for Fiscal Year 2026](https://policyrisk.com/legislation/119-s-2342)
- [119-s-4615: Intelligence Authorization Act for Fiscal Year 2027](https://policyrisk.com/legislation/119-s-4615)
- [119-s-2142: GOLDEN DOME Act of 2025](https://policyrisk.com/legislation/119-s-2142)
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-2010: TERMS Act](https://policyrisk.com/legislation/119-s-2010)
- [119-s-292: Educational Choice for Children Act of 2025](https://policyrisk.com/legislation/119-s-292)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-5454 (as of 2026-10-04).